Harneys advises Gaush Meditech Limited on its Hong Kong IPO
Harneys acted as Cayman Islands counsel to Gaush Meditech Limited on its successful initial public offering with net proceeds of HK$672 million (around US$80 million). Its shares were listed and commenced trading on the Main Board of the Hong Kong Stock Exchange on 12 December 2022.
Gaush is a leading supplier of ophthalmic medical devices in mainland China. Proceeds from the listing will be used to enhance the company’s research and development capability, accelerate the commercialisation of its patents, and upgrade its equipment product portfolio relating to ophthalmic diagnostic and screening.
The Harneys team was led by Shanghai Corporate Partner Calamus Huang and Senior Associate Lily Zhang with support from Raymond Ng, Partner in the firm’s global Banking & Finance and Corporate groups based in the Hong Kong office.
Calamus commented: “We were pleased to advise Gaush on its successful listing. We send our congratulations to the team and wish them every success in the market as they embark on a new journey to advance their success in the future.”
The firm’s associated corporate and private wealth services business, Harneys Fiduciary, acts as the registered office and principal share registrar for Gaush, providing the client with a seamless integrated service.
Tian Yuan Law Firm LLP, O’Melveny & Myers and Commerce & Finance Law Offices provided Hong Kong, US and PRC legal advice to Gaush respectively. Sullivan & Cromwell (Hong Kong) LLP advised the joint sponsors and underwriters with regard to Hong Kong, and US laws, while Jingtian & Gongcheng advised the joint sponsors and underwriters with regard to PRC laws.
The Corporate team at Harneys advises on complex cross-border transactions involving British Virgin Islands, Cayman Islands, Luxembourg, and Cyprus corporate vehicles. The team’s significant track record includes advising on high-profile private equity transactions, landmark IPOs, as well as public and private M&A and joint ventures. The firm’s expertise lies in advising entities listed or listing on all major stock exchanges, including the New York Stock Exchange, NASDAQ, the London Stock Exchange, AIM, the Hong Kong Stock Exchange, the Shanghai Stock Exchange, and the Luxembourg Stock Exchange.